This course aims at a problem-oriented, in-depth perspective on economic policy processes.  Along with addressing core conceptual issues to approach economic policy from a heterodox economics perspective, this course we will cover in some detail three contemporary challenges: economic inequality, climate change and gender alongside with potential economic policy responses. 

In the first part of the course, we discuss the structure, goals and requirements of the course, as well as students’ expectations. Furthermore, economic policy issues are addressed from a heterodox economics perspective. In particular, the complex and multi-dimensional relationship between the state, markets and economic policy actors is covered based on heterodox concepts such as power relations, scale, discourses, path-dependency and institutional contexts.

The second part turns to three contemporary challenges, economic inequality, climate change and gender, which are explored based on lectures, student discussions and group reflections. A specific focus lies on the economic policy dimension of the contemporary challenges. The third part of the course centres on student group projects (3 to 4 students per project) that reflect on potential economic policy responses to address the contemporary challenges. Here, interactive techniques and in class reflections will be used to facilitate the development of research ideas as well as the project design and implementation. Finally, students will presented their projects within the “future lab”.

By the end of the semester, students should have an in-depth understanding of economics policy issues from a heterodox economics perspective as well as profound knowledge of contemporary policy challenges such as economic inequality, climate change and gender along with their interdependencies. Moreover, students will be able to understand and analyse current economic policies in an informed and critical way.

Attendance is mandatory. Students may miss one meeting without penalty.

The course is based on a range of teaching methods. At the beginning of the course, the instructor will lecture several times to teach key information, theoretical considerations and the overall framework of the course. Furthermore, student discussions and group exercises will enable an in-depth and interactive reflection of the issues addressed. There will be ample time (and the expectation of) critical discussion and reflection. Later on, interactive techniques and in class reflections are used to facilitate the student group projects, in particular, with the development of research ideas as well as the project design and implementation. At the end of the course, the group presentations with the “future lab” will enable interactive and critical discussion of the students’ group projects.

There are four portions to students’ grades:

• class participation (10%),
• one individual response paper (20%),
• one page project outline and group presentation (20%),
• and the group project paper (50%). 

Attendance on the first day of class is mandatory. If a registered student does not attend, his/her space will be given to a student on the waiting list.

It is expected that students have already completed the course "Economic Policy" ("Wirtschaftspolitik"). 

vw3@wu.ac.at